Tuesday, March 15, 2016

Oregon’s Unemployment Rate Drops to 4.8 Percent in February

Oregon’s unemployment rate dropped to 4.8 percent in February, down from 5.1 percent in January. The last time Oregon’s unemployment rate was this low was in April 1995. A year ago, in February 2015, Oregon’s unemployment rate was 5.8 percent.

Oregon’s payroll employment grew by 4,300 in February, following a revised gain of 9,300 in January. The February gain was close to the average monthly pace seen over the past three years.

Rapid growth continued in February for several major industries that have also seen fast expansion over the year. Construction added 1,900 jobs in February and gained 4,200, or 5.1 percent, since February 2015. Professional and business services added 1,400 in February and 11,700 in the past 12 months. Health care and social assistance added 1,400 over the month and 9,200 over the year.

Meanwhile, three major industries cut jobs in February: private educational services (-1,500 jobs), manufacturing (-700), and other services (-600). Each of these industries has expanded since February 2015, but at a slower rate than the overall private sector.

Listen to State Employment Economist Nick Beleiciks discuss this month's employment situation:

Read the full report: February 2016 Press Release

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